Serve The Better Love The Community 服務美好 、善愛生活 Interim Report 2024 中期報告 Interim Report 2024 中期報告 CONTENT 目錄 | 2 | Company Introduction | 28 | Interim Condensed Consolidated Statement | | --- | --- | --- | --- | | | 公司簡介 | | of Profit or Loss and Other Comprehensive Income | | | | | 中期簡明綜合損益及其他全面收益表 | | 3 | Corporate Information | | | | | 公司資料 | 30 | Interim Condensed Consolidated Statement of | | | | | Financial Position | | 5 | Management Discussion and Analysis | | 中期簡明綜合財務狀況表 | | | 管理層討論與分析 | | | | | | 3 ...

Revenue Performance - Medical products revenue for the fiscal year 2024 reached HKD 25.57 million, a 16.5% increase from HKD 21.94 million in fiscal year 2023[5] - Custom components for medical equipment saw a significant revenue increase of 86%, driven by a shift towards comprehensive systems like Continuous Glucose Monitoring (CGM)[8] - Sales of blood collection tubes and equipment dropped from HKD 30.43 million in fiscal year 2022 to HKD 14.13 million in fiscal year 2023, a decline of 53.6%[7] - Revenue from pandemic-related products fell to zero in fiscal year 2023, a 100% decrease from HKD 16.34 million in fiscal year 2022, due to normalized demand post-COVID-19[6] Product Development and Expansion - The company plans to expand its product offerings to include surgical instruments, orthopedic tools, imaging equipment, and disinfection products[11] - The company intends to launch 2 to 3 new co-developed products by 2026, including surgical instrument kits and imaging equipment accessories[14] - The newly obtained production license is a strategic expansion of the existing medical business segment, significantly broadening the product portfolio with new devices and components, including infusion and transfusion devices, nursing and care equipment, and protective gear[15] - The production license allows the company to market and sell a diverse range of medical devices in China, covering categories such as active and passive surgical instruments, orthopedic surgical instruments, medical imaging equipment, and more[16] Regulatory Compliance and Quality Control - The company is focusing on diversifying its product lines while ensuring regulatory compliance with certifications like CE and FDA[11] - The company emphasizes compliance with strict quality and regulatory standards to ensure the highest levels of safety and effectiveness for its medical products[28] - The production facilities have received FDA certification, reflecting the company's commitment to adhering to strict regulatory frameworks[28] - The company emphasizes strict quality control and regulatory compliance in all operations, whether internal or outsourced[30] Market Strategy and Partnerships - The company aims to achieve product registration and distribution permits in Shandong by August 2025, marking a significant milestone for market entry[12] - The company is actively seeking partnerships with subcontractors that have existing certifications to expedite market entry without significant capital expenditure[12] - The company anticipates obtaining additional provincial registrations in China by the fourth quarter of 2026 to expand its geographical coverage[13] - The company will adopt a data-driven regional expansion strategy to optimize service delivery and enhance commitment to hospital clients[34] Operational Capacity and Team - The company has established an 8-member dedicated operations team led by Mr. Dai Zhongliang, who has over ten years of experience in the medical products industry, to manage and monitor all manufacturing processes[27] - The company has a maximum annual production capacity of approximately 5 million units at its existing facility in Dongguan, China[31] - The business model under the production license remains unchanged, ensuring rapid expansion of the product range while maintaining effective operational strategies[17] Financial Projections and Market Outlook - The Chinese healthcare market is projected to grow at a compound annual growth rate of approximately 12-14%, reaching over $250 billion by 2030[32] - The company plans to achieve estimated sales of RMB 20 million by December 2025 through strategic partnerships with clients introduced by a new management team member[33] - The board is optimistic about business prospects due to strong market demand and strategic initiatives taken[32] - The establishment of a new subsidiary in Jinan, Shandong, aims to strengthen the company's market presence in China[33] Customer Engagement and Sales Strategy - The sales and marketing department is tasked with customer engagement, handling inquiries, and coordinating sales orders to ensure timely processing and delivery[23] - The company aims to enhance its core business by providing a more comprehensive product suite to meet broader customer needs and generate additional revenue streams[15] - The company will expand its customer base to include hospital clients, diversifying revenue sources and strengthening market position[33]

Grand Pharmaceutical Group Limited 遠大醫藥集團有限公司* ( 於百慕達註冊成立之有限公司 ) (股份代號：00512) 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 自願性公告 關於 2021 年及 2022 年年報之補充公告 茲提述遠大醫藥集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）分別於 2022 年 4 月 25 日及 2023 年 4 月 27 日刊發之 2021 年年報及 2022 年年報（「年報」）。 除另有定義外，本函件所用之詞彙與年報所界定者具有相同涵義。 | | | | 退休福利 | | | --- | --- | --- | --- | --- | | | 袍金 | 薪金及津貼 | 計劃供款 | 合計 | | | 港幣千元 | 港幣千元 | 港幣千元 | 港幣千元 | | 執行董事： | | | | | | 劉程煒先生（於二零二一年六 | | | | | | 月一日退任） | 21 ...

Financial Performance - The company's revenue for the first half of 2025/26 increased by approximately 21% to HKD 470 million, compared to HKD 389 million in the same period last year[6]. - Net profit for the period was HKD 47 million, a significant increase from HKD 3 million in the previous year, resulting in earnings per share of HKD 0.5644[5][18]. - Revenue from customer contracts for the six months ended September 30, 2025, was HKD 469,769,000, an increase of 20.8% compared to HKD 388,785,000 for the same period in 2024[39]. - Gross profit for the same period was HKD 89,026,000, representing a gross margin of 19.0%, up from HKD 58,439,000 in 2024[39]. - Operating profit increased significantly to HKD 63,542,000, compared to HKD 9,889,000 in the previous year, reflecting a substantial improvement in operational efficiency[39]. - The company reported a profit of HKD 47,411 thousand for the six months ended September 30, 2025, compared to HKD 3,237 thousand in the same period last year, reflecting a substantial increase[42]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.12 per share, compared to no dividend in the previous year[5]. - The company declared an interim dividend of HKD 0.12 per share for the period, compared to no dividend in 2024[63]. - Basic and diluted earnings per share for the period were HKD 56.44, a significant increase from HKD 3.85 in the previous year[39]. Financial Position - The net asset to debt ratio improved to 14% from 28% in the previous period, indicating a stronger financial position[5][23]. - The current ratio increased to 0.95 from 0.87, reflecting better liquidity management[5][20]. - Total assets reached HKD 935,630 thousand, an increase of 1.3% compared to HKD 921,078 thousand as of March 31, 2025[41]. - Total equity rose to HKD 527,065 thousand, up 9.9% from HKD 479,654 thousand[41]. - Total liabilities decreased to HKD 408,565 thousand from HKD 441,424 thousand, a reduction of 7.4%[41]. Cash Flow and Expenses - Cash and bank balances totaled approximately HKD 96 million, down from HKD 112 million, primarily due to operational cash flow and repayment of advances[21]. - Net cash generated from operating activities increased significantly to HKD 89,550 thousand, compared to HKD 42,665 thousand in the previous period, marking a growth of 109.8%[43]. - Administrative expenses remained stable at approximately HKD 25 million, while net financial costs decreased by about 41% to HKD 5 million due to lower interest rates[18]. - Total cost of sales and administrative expenses for the six months ended September 30, 2025, amounted to HKD 406,228,000, up 15% from HKD 353,948,000 in 2024[54]. Workforce and Employment - As of September 30, 2025, the company had 511 employees, an increase from 420 employees as of March 31, 2025, indicating growth in workforce[28]. Projects and Contracts - The total value of major contracts on hand is approximately HKD 630 million, down from HKD 961 million previously, with ongoing projects contributing to revenue[5][6]. - The Lantau Island project accounted for about 70% of the group's revenue during the period, with a contract value of approximately HKD 846 million[10][11]. - The company expects to start generating revenue from a new public housing development project in Yuen Long in the second half of the fiscal year[17]. Liabilities and Financial Obligations - The company has no significant contingent liabilities other than a performance guarantee of approximately HKD 29,000,000 related to a foundation engineering project[26]. - The company has pledged machinery and equipment with a net book value of approximately HKD 44,000,000 as collateral for long-term bank loans[27]. - The company’s borrowings decreased to HKD 171,762 thousand from HKD 167,140 thousand, indicating a slight increase of 2.4%[41]. - Trade payables increased to HKD 89,512 thousand as of September 30, 2025, compared to HKD 78,028 thousand as of March 31, 2025, reflecting a growth of 14.5%[67]. - Short-term bank loans rose to HKD 158,566 thousand as of September 30, 2025, up from HKD 148,016 thousand as of March 31, 2025, indicating an increase of 7.4%[67]. Management and Strategic Direction - The board believes that the appointment of Mr. Liu Zhenming as CEO will enhance the company's strategic direction in the competitive Hong Kong construction market[35].

Revenue Performance - For the six months ended September 30, 2025, the Group's total revenue decreased by approximately 3.4% to HK$173,151,000 from HK$179,187,000 in the corresponding period last year[17] - The decrease in revenue was primarily due to the completion of significant long-term contracts and a decline in demand for vessel chartering and related services[17] - Revenue from marine construction services increased due to improved construction progress on key projects during the Period[17] - The Group expects demand for vessel chartering services to diminish gradually as high-profile marine construction projects reach completion[11] - Revenue for the six months ended September 30, 2025, was HK$173,151,000, a decrease of 3% from HK$179,187,000 in the same period of 2024[125] - Revenue from vessel chartering and related services decreased to HK$52,176,000 from HK$75,995,000, representing a decline of approximately 31.4%[167] - Revenue from marine construction services increased significantly to HK$107,487,000 from HK$89,923,000, marking an increase of about 19.4%[167] Profitability - Gross profit increased by approximately 4.4%, from HK$48,564,000 for the corresponding period last year to HK$50,713,000 for the Period[23] - The gross profit margin increased by approximately 2.2 percentage points from approximately 27.1% for the corresponding period last year to approximately 29.3% for the Period[23] - Profit attributable to owners of the Company increased by approximately 35.4%, from HK$10,531,000 for the corresponding period last year to HK$14,255,000 for the Period[35] - Basic earnings per share attributable to owners of the Company increased from approximately HK1.05 cent for the corresponding period last year to approximately HK1.43 cent for the Period[40] - Total comprehensive income for the period was HK$20,445,000, up from HK$16,993,000, reflecting a growth of 20.5%[125] - Profit for the period attributable to owners of the Company was HK$14,255,000, representing a 35.5% increase compared to HK$10,531,000 in the previous year[125] Financial Position - The Group's net current assets increased from HK$167,793,000 as at 31 March 2025 to HK$183,164,000 as at 30 September 2025[38] - The current ratio increased from approximately 2.5 as at 31 March 2025 to approximately 2.7 as at 30 September 2025[38] - The gearing ratio decreased from 2.40% at 31 March 2025 to 2.16% at 30 September 2025[39] - The Group's trade and other receivables decreased from HK$84,756,000 as at 31 March 2025 to HK$80,495,000 as at 30 September 2025[37] - Non-current assets decreased to HK$148,145,000 from HK$158,235,000, a decline of 6.4%[126] - Current assets increased to HK$288,481,000, up from HK$282,270,000, showing a growth of 2.4%[126] - Current liabilities decreased to HK$105,317,000 from HK$114,477,000, a reduction of 8%[126] - Net current assets increased to HK$183,164,000 as of 30 September 2025, up from HK$167,793,000 at 31 March 2025, representing a growth of 9.2%[128] - Total assets less current liabilities rose to HK$331,309,000, compared to HK$326,028,000 at the end of March 2025, indicating a 1.0% increase[128] - Net assets reached HK$314,353,000, an increase of 2.5% from HK$307,828,000 as of 31 March 2025[128] Cash Flow - Net cash from operating activities was HK$19,964,000 for the six months ended 30 September 2025, a significant improvement from a cash outflow of HK$11,990,000 in the prior year[133] - Cash used in investing activities totaled HK$6,977,000, a decrease from cash inflow of HK$13,536,000 in the same period last year[133] - The Group reported a net cash used in financing activities of HK$17,258,000, an improvement from HK$28,880,000 in the previous year[133] - The net decrease in cash and cash equivalents for the six months ended 30 September 2025 was HK$4,271,000, compared to a decrease of HK$27,334,000 for the same period in 2024[134] - Cash and cash equivalents at the end of the period were HK$69,301,000, an increase from HK$49,243,000 at the end of the previous period[134] Corporate Governance - The Company is committed to high corporate governance standards to safeguard shareholder interests and enhance corporate value[114] - The Company has maintained compliance with the Corporate Governance Code, except for the separation of the roles of chairman and CEO[115] - The Audit Committee, comprising three independent non-executive Directors, reviewed the financial statements and internal controls for the period[118] Shareholder Information - As of September 30, 2025, the company has a total of 560,114,750 shares held by Kitling Investments (BVI) Limited, representing 56.00% of the shareholding[87] - Directors Wen Tsz Kit Bondy and Chan Sau Ling Amy each have an interest in the same 560,114,750 shares, also accounting for 56.00% of the shareholding[94] - The share capital of Kitling (BVI) is beneficially owned by Mr. Wen and Ms. Chan as to 70% and 30% respectively[95] - There were no other interests or short positions of the Directors in the shares or underlying shares of the Company as of September 30, 2025[89] - The Company was successfully listed on the Main Board of the Stock Exchange on 18 March 2019, with net proceeds from the listing amounting to approximately HK$65.6 million[110] - As of 30 September 2025, a total of HK$43.6 million of the net proceeds had been utilized according to the allocation set out in the Company's announcement[110] Segment Information - The Group's operating segments include vessel chartering, ship management, and marine construction services, focusing on resource allocation and performance assessment[144] - The segment profit for the vessel chartering services was HK$25,793,000, ship management services was HK$6,655,000, and marine construction services was HK$17,952,000, totaling HK$50,400,000[150] - The Group's inter-segment revenue was HK$10,406,000, with total segment revenues amounting to HK$173,151,000[150] Other Financial Information - The Group incurred no capital expenditure during the six months ended September 30, 2025, compared to HK$3,110,000 in 2024[57] - No significant investments, acquisitions, or disposals of subsidiaries were made during the period[53] - As of September 30, 2025, there were no significant capital commitments[55] - The Group has not been awarded any tenancy for the shipyard sites tendered, but will continue to seek suitable opportunities[113]

2025/2026 中期報告 2 公司資料 中期報告 2025/2026 目錄 簡明綜合現金流量表 22 簡明綜合財務報表附註 24 公司資料 2 管理層討論及分析 3 企業管治及其他資料 13 簡明綜合全面收益表 17 簡明綜合財務狀況表 18 簡明綜合權益變動表 20 董事會 執行董事 Daniel Tay Kok Siong先生（「Daniel Tay先生」） 黃志達先生（「黃先生」） （行政總裁） 獨立非執行董事 霍志權先生 （主席） 楊文豪先生 陳秋燕女士（「陳女士」） 審核委員會 霍志權先生 （主席） 楊文豪先生 陳女士 薪酬委員會 陳女士 （主席） 楊文豪先生 霍志權先生 Daniel Tay先生 黃先生 提名委員會 楊文豪先生 （主席） 陳女士 霍志權先生 公司秘書 董穎怡女士 授權代表 黃先生 董穎怡女士 註冊辦事處 Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 總部及新加坡主要營業地點 10 Anson Road #34–05, International Plaza Si ...

Financial Performance - The company reported unaudited revenue of HKD 31,992,000 for the six months ended September 30, 2025, compared to HKD 9,209,000 for the same period in 2024, representing a significant increase of 247%[6]. - The net loss for the period was HKD 5,412,000, an improvement from a net loss of HKD 6,740,000 in the previous year, indicating a reduction in losses by approximately 20%[6]. - For the six months ended September 30, 2025, the company reported a total loss of HKD 6,740,000, compared to a loss of HKD 5,412,000 for the same period in 2024, indicating a year-over-year increase in losses of approximately 24.4%[9]. - The company reported a pre-tax loss of HKD 4,803,000 for the six months ended September 30, 2025, compared to a loss of HKD 6,493,000 for the same period in 2024[29]. - The loss attributable to owners of the company for the six months ended September 30, 2025, was approximately HKD 5.4 million, a decrease of approximately HKD 1.3 million or 19.7% from a loss of approximately HKD 6.7 million for the same period in 2024[66]. - Loss before tax for the six months ended September 30, 2025, was approximately HKD 4.8 million, a decrease of approximately HKD 1.7 million or 26.0% compared to the previous year[82]. Revenue Breakdown - Total revenue for the six months ended September 30, 2025, was HKD 31,992,000, a substantial increase of 248.5% compared to HKD 9,209,000 in the same period of 2024[15]. - Revenue from licensing and maintenance services reached HKD 17,070,000, up from HKD 5,092,000, reflecting a growth of 234.5% year-over-year[15]. - The company reported a significant increase in initial setup and customization services revenue, which rose to HKD 11,646,000 from HKD 495,000, indicating a growth of over 2,250%[15]. - The AI-driven solutions segment generated revenue of HKD 22,149,000 for the six months ended September 30, 2025, while the precious metals trading services segment contributed HKD 2,876,000[21]. - The AI-driven solutions segment generated revenue of approximately HKD 22.1 million, accounting for 69.2% of total revenue, reflecting the integration of AI algorithms and big data with existing data analysis techniques[69]. - Revenue from cryptocurrency sales was approximately HKD 0.4 million, accounting for 1.4% of total revenue[76]. - Revenue from the precious metal trading services segment decreased by approximately HKD 0.7 million to HKD 2.9 million, representing 9.0% of total revenue[76]. Assets and Liabilities - Total assets increased to HKD 124,596,000 as of September 30, 2025, compared to HKD 70,052,000 as of March 31, 2025, reflecting a growth of 78%[7]. - The company’s total liabilities increased significantly to HKD 34,690,000 from HKD 8,474,000, indicating a rise of 309%[8]. - The company’s total non-current assets as of September 30, 2025, were HKD 68,086,000, with intangible assets accounting for HKD 18,132,000[23]. - The company’s cash and cash equivalents increased to HKD 20,070,000 from HKD 18,232,000, showing a growth of 10%[7]. - The company’s non-current assets increased by HKD 9,216,000 as of September 30, 2025, compared to the previous period[23]. Share Capital and Equity - The company's equity attributable to owners rose to HKD 89,544,000 from HKD 61,230,000, marking an increase of 46%[8]. - The company raised HKD 33,710,000 from the placement of new shares during the financing activities, which contributed positively to the cash flow[10]. - As of September 30, 2025, the company has issued a total of 480,000,000 shares with a par value of HKD 0.01 per share, resulting in total issued capital of HKD 4,800,000[48]. - The company raised approximately HKD 33.7 million from a share placement completed on July 22, 2025[97]. - The weighted average number of ordinary shares issued increased to 431,038,000 shares in 2025 from 400,000,000 shares in 2024, indicating a 7.8% increase[33]. Employee and Operational Expenses - The company incurred costs of HKD 19,934,000 for subcontracting, which was a new expense category introduced this period[6]. - The company reported a decrease in employee benefit expenses to HKD 7,315,000 from HKD 8,859,000, a reduction of approximately 17%[6]. - The total employee benefits payable as of September 30, 2025, amounted to HKD 1,868,000, an increase from HKD 1,157,000 as of March 31, 2025[56]. - The total remuneration for key management personnel for the six months ended September 30, 2025, was HKD 1,750,000, compared to HKD 1,652,000 for the same period in 2024[61]. - Employee benefits expenses decreased by approximately HKD 1.6 million or 17.4% to HKD 7.3 million, mainly due to cost control measures in China[78]. Corporate Governance and Compliance - The company has adopted corporate governance practices based on the GEM Listing Rules, ensuring compliance with applicable governance codes[109]. - The company has established an audit committee as of March 29, 2019, to oversee financial reporting and internal controls[123]. - The audit committee consists of three independent non-executive directors, with 劉慧卿 serving as the chairperson[123]. - The financial statements for the six months ending September 30, 2025, have been reviewed by the audit committee[123]. - The company has adopted a strict code of conduct for securities trading in compliance with GEM listing rules[118]. Strategic Initiatives - The company has expanded its operational segments to include four reportable operating segments, up from two in the previous year, indicating strategic growth in its business model[17]. - The establishment of Da Jin Xiang AI Technology Co., Ltd. aims to focus on AI and advanced technology operations, leveraging the company's expertise in fintech[65]. - The company plans to strategically enter the Hong Kong securities trading market through the establishment of Da Xiang Securities International Co., Ltd., which is expected to complement existing precious metals trading services[68]. - The company aims to optimize its existing trading system, GES TX, enhancing advanced pricing engines and comprehensive trading functions[68]. Risks and Liabilities - The company has no significant capital commitments or contingent liabilities as of September 30, 2025[102]. - The company has no provisions for expected credit losses on trade receivables and contract assets for the six months ended September 30, 2025[90]. - The company has not implemented any foreign currency hedging policies but continuously monitors foreign exchange risks[89]. - The company maintains a cautious approach to managing liquidity risk, ensuring sufficient cash and bank balances to meet short-term needs[92].

Lotus Horizon Holdings Limited 智中國際控股有限公司 (incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 6063 2025 INTERIM REPORT 中期報告 CONTENTS 目錄 Corporate Information 2 公司資料 | Management Discussion and Analysis | 6 | | --- | --- | | 管理層討論及分析 | | Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 未經審核簡明綜合損益及其他全面收益表 Unaudited Condensed Consolidated Statement of Financial Position 26 未經審核簡明綜合財務狀況表 Unaudited Condensed Consolidated Statem ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 364,435,000, a decrease of 10.6% compared to HKD 407,664,000 in 2024[4] - Gross profit increased slightly to HKD 156,171,000, compared to HKD 154,149,000 in the previous year, reflecting a gross margin of 42.8%[4] - Operating loss narrowed to HKD 26,980,000 from HKD 40,973,000 year-on-year, indicating improved operational efficiency[4] - Net loss attributable to shareholders was HKD 23,554,000, a reduction from HKD 33,711,000 in the prior year, resulting in a loss per share of HKD 5.46[4] - Total revenue for the six months ended September 30, 2025, was HKD 364,435,000, down 10.6% from HKD 407,664,000 in 2024[20] - Advertising revenue decreased to HKD 159,158,000 in 2025 from HKD 189,688,000 in 2024, a decline of 16.1%[20] - The media segment generated revenue of HKD 232,856,000 in 2025, down from HKD 274,072,000 in 2024, a decrease of 15.0%[24] - The financial news and software segment reported revenue of HKD 133,562,000 in 2025, slightly down from HKD 135,584,000 in 2024, a decrease of 1.5%[24] - The company reported a loss of HKD 23,339,000 for the six months ended September 30, 2025, compared to a loss of HKD 33,611,000 in 2024, an improvement of 30.7%[24] - Basic loss per share was HKD 0.0545, compared to HKD 0.0781 in the previous year, reflecting a 30% decrease in shareholder loss[32][41] Assets and Liabilities - Total assets decreased to HKD 810,737,000 from HKD 855,622,000, primarily due to a reduction in current assets[8] - Total equity attributable to shareholders decreased to HKD 762,919,000 from HKD 807,788,000, reflecting the impact of the net loss[8] - Total trade receivables amounted to HKD 114,268,000, with a provision for impairment of HKD 3,938,000[35] - Total trade payables were HKD 17,799,000, showing a decrease from HKD 21,018,000 in the previous period[36] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 294,168,000 from HKD 251,157,000, indicating improved liquidity[7] - Operating cash flow for the six months ended September 30, 2025, was a net outflow of HKD 23,610,000, compared to a net outflow of HKD 46,317,000 for the same period in 2024, representing a 49% improvement[12] - Net cash generated from investing activities was HKD 91,960,000 for the six months ended September 30, 2025, compared to HKD 21,234,000 in 2024, indicating a significant increase[12] - Cash and cash equivalents at the end of the period increased to HKD 294,168,000 from HKD 152,846,000 in 2024, reflecting a growth of 92.5%[12] Dividends - The company paid a final dividend of HKD 21,580,000 to shareholders, down from HKD 30,212,000 in 2024, a reduction of 28.7%[12] - The company declared an interim dividend of HKD 0.03 per share, totaling HKD 12,948,000, consistent with the previous year[33] - The interim dividend declared is HKD 0.03 per share, totaling HKD 12.948 million, consistent with the previous year[54] Governance and Compliance - The company has adopted the corporate governance code and has established a clear division of roles between the chairman and the CEO, although both roles are held by Mr. Feng Shaobo[65] - The Audit Committee, established in 2005, reviewed the unaudited interim results for the six months ending September 30, 2025, ensuring compliance with financial regulations[68] - The company has a Compensation Committee and a Nomination Committee, both established in 2005, to oversee executive remuneration and board member nominations respectively[69][70] - The company confirms that all directors have complied with the securities trading regulations during the six months ending September 30, 2025[67] - No arrangements were made for directors or senior management to benefit from the purchase of shares or related securities during the reporting period[61] - The company’s governance structure includes experienced non-executive directors to ensure balanced power distribution within the board[65] Employment and Shareholding - The group had a total of 939 employees as of September 30, 2025, down from 1,054 employees the previous year[53] - As of September 30, 2025, the company has issued shares totaling 100% ownership, with significant holdings by directors: Mr. Feng Shaobo holds 54,359,000 shares (12.595%) and Mr. Zhu Yulun holds 87,435,000 shares (20.258%)[58] - Major shareholders include Sky Vision Investments Limited with 87,435,000 shares (20.258%), Guangzheng Xin Yan Charity Foundation Limited with 58,169,000 shares (13.478%), and Golden Rooster Limited with 54,359,000 shares (12.595%)[63] - The company did not repurchase any shares during the six months ending September 30, 2025, nor did it buy or sell any shares[64] Strategic Initiatives - The group plans to continue investing in digital platforms and artificial intelligence to enhance business innovation and operational efficiency[52] Other Comprehensive Income - Other comprehensive income included a foreign currency translation gain of HKD 265,000, compared to HKD 342,000 in the previous year[5]

Financial Performance - The consolidated revenue for the six months ended September 30, 2025, was approximately HKD 10,900,000, a decrease of about 51.3% compared to HKD 22,400,000 for the same period last year[3]. - The loss attributable to the owners of the company decreased from HKD 11,300,000 in the previous year to HKD 10,300,000 for the six months ended September 30, 2025[3]. - The gross profit for the six months ended September 30, 2025, was HKD 4,478,000, down from HKD 9,727,000 in the previous year[4]. - The total comprehensive loss for the six months ended September 30, 2025, was HKD 10,348,000, compared to HKD 11,517,000 in the previous year[5]. - The basic and diluted loss per share for the six months ended September 30, 2025, was HKD 1.86, compared to HKD 2.18 for the same period last year[4]. - The pre-tax loss for the six months ended September 30, 2025, was HKD 10,345,000, compared to a loss of HKD 11,352,000 for the same period in 2024[16]. - The operating gross profit margin was approximately 40.9%, down from 43.4% in 2024, indicating a stable performance despite market challenges[44]. Operating Expenses and Costs - Operating expenses for the period were HKD 11,246,000, compared to HKD 19,667,000 for the same period last year, indicating a reduction in costs[4]. - Total operating expenses decreased by approximately 42.8% to about HKD 11,200,000, down from HKD 19,700,000 in 2024, reflecting strategic adjustments in the retail portfolio[47]. - The company reported a significant increase in financing costs, with interest expenses on convertible bonds rising to HKD 2,747,000 from HKD 400,000 in the previous year[14]. - Financing costs increased by 136.1% to approximately HKD 3,500,000, up from HKD 1,500,000 in 2024, mainly due to increased interest expenses on convertible bonds[46]. Assets and Liabilities - Non-current assets decreased from HKD 10,335,000 as of March 31, 2025, to HKD 8,373,000 as of September 30, 2025[6]. - Current assets decreased from HKD 35,946,000 as of March 31, 2025, to HKD 27,480,000 as of September 30, 2025[6]. - The net current liabilities increased from HKD 111,230,000 as of March 31, 2025, to HKD 117,382,000 as of September 30, 2025[6]. - Total assets as of September 30, 2025, amounted to HKD 35,853,000, a decrease from HKD 46,281,000 as of March 31, 2025[32]. - Total liabilities as of September 30, 2025, were HKD 176,929,000, slightly down from HKD 177,009,000 as of March 31, 2025[33]. - The debt-to-asset ratio was 493% as of September 30, 2025, compared to 382% as of March 31, 2025, indicating increased leverage[50]. Revenue Segments - The restaurant segment reported a loss of HKD 2,783,000 for the six months ended September 30, 2025, compared to a loss of HKD 5,643,000 in the previous year, showing an improvement in losses[30]. - The photovoltaic segment generated revenue of HKD 2,616,000 for the six months ended September 30, 2025, with no revenue reported in the same period of 2024[30]. - The photovoltaic segment recorded revenue of HKD 15,113,000 as of September 30, 2025, with a focus on solar cells and related materials[36]. - The main customer in the photovoltaic segment, Customer A, contributed HKD 2,616,000 in revenue, representing over 10% of the group's total revenue[37]. Cash Flow and Investments - The net cash used in operating activities for the six months ended September 30, 2025, was HKD (8,840,000), compared to HKD (3,260,000) for the same period in 2024, indicating a significant increase in cash outflow[9]. - The company’s cash flow from investment activities was negative at HKD (7,000), a decrease from a positive cash flow of HKD 1,092,000 in the same period last year[9]. - The company has redirected HKD 13 million towards renewable energy and new materials R&D, including a strategic investment of RMB 7 million in a subsidiary[62]. - The remaining unutilized balance of approximately HKD 4.6 million for potential investment opportunities is expected to be fully utilized by December 31, 2026[63]. Employee and Management - The total compensation for directors and key management personnel for the six months ended September 30, 2025, is HKD 1,580,000, a decrease from HKD 1,687,000 in the previous year[27]. - As of September 30, 2025, the company has 29 full-time employees in Hong Kong and China, down from 42 as of March 31, 2025[57]. - The company has provided various employee benefits, including medical allowances and training subsidies, to enhance employee performance and retention[57]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the draft interim report and accounts for the six months ending September 30, 2025[82]. - The company has adopted a code of conduct regarding securities trading by directors, ensuring compliance with GEM listing rules[83]. - The company is committed to maintaining high standards of corporate governance and has adhered to the corporate governance code during the reporting period[84]. Shareholder Information - Major shareholder Hanbo Holdings Limited holds 296,887,066 shares, representing approximately 53.49% of the voting shares issued[68]. - Mr. Tang Shengming holds convertible bonds with an outstanding principal amount of HKD 40,000,000, which, if fully converted, would result in the issuance of 71,428,571 ordinary shares, equating to approximately 12.87% of the issued share capital as of September 30, 2025[70]. - The new share option scheme adopted on September 22, 2023, aims to incentivize eligible participants and enhance the company's long-term growth and profitability[72].